Shandong's foreign trade grows 18.8% in Jan-July

(| Updated : 2022-08-11

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Containers are unloaded at Qingdao Port in Shandong province. [Photo by Yu Fangping/For China Daily]

In the first seven months of this year, the total value of Shandong's imports and exports reached 1.89 trillion yuan ($278.39 billion), up 18.8 percent year-on-year, according to local customs authorities.

Its exports reached 1.14 trillion yuan, up 27 percent, while imports stood at 744.49 billion yuan, up 8.1 percent.

In July, Shandong's imports and exports reached 321.18 billion yuan, up 31.4 percent year-on-year, setting a new record for the third time after May and June this year.

Private enterprises posted positive foreign trade results. From January to July, the total imports and exports of private enterprises in the province reached 1.39 trillion yuan, a year-on-year increase of 24.8 percent, and accounted for 73.5 percent of the provincial total.

The imports and exports of foreign-invested enterprises and State-owned enterprises reached 339.19 billion yuan and 160.56 billion yuan, respectively, up 1.2 percent and 14.9 percent.

In the first seven months, Shandong's exports of mechanical and electrical products reached 475.96 billion yuan, up 21.7 percent, and accounted for 41.6 percent of the province's total exports value, maintaining a positive trend of quick development since the start of this year.